Assume That Greece Has a Comparative Advantage in Fish and Germany

question 124

Multiple Choice

Assume that Greece has a comparative advantage in fish and Germany has a comparative advantage in cars. If these two countries specialize and trade according to their comparative advantage, which of the following would NOT be true?

• A)Greece will specialize in and export fish.
• B)Some individuals in each country will be hurt.
• C)More of each good can be consumed in both countries.
• D)Greece will benefit from trade more than Germany.

Analyze trade benefits between countries using comparative advantage.

Understand the role of exports in a country's GDP.

Identify the short-term benefits of protectionism for domestic producers.

Recognize the impact of economies of scale on trade benefits.

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Definitions:

Amount in Controversy

The Amount in Controversy is the monetary value involved in a lawsuit that must be met or exceeded for a court to have jurisdiction.

Motion to Dismiss

A legal filing requesting that a case be thrown out or dismissed without further hearing, often due to lack of legal basis or jurisdiction.

Certiorari Jurisdiction

A legal principle where a higher court reviews decisions and outcomes of lower courts.

Summary Judgment

A method of reaching a judgment in a civil case before trial. The standard for granting a motion for summary judgment is that there be no significant issue of material fact and that the moving party be entitled to judgment as a matter of law.